Question
1. You want to be a millionaire when you retire in 35 years. How much do you have to save each month if you can
1. You want to be a millionaire when you retire in 35 years. |
How much do you have to save each month if you can earn an 11.5 percent annual return? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
Savings per month | $ |
How much do you have to save each month if you wait 15 years before you begin your deposits? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
Savings per month | $ |
How much do you have to save each month if you wait 25 years before you begin your deposits? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
Savings per month | $ |
2.
Toadies, Inc., has identified an investment project with the following cash flows. |
Year | Cash Flow | |||||
1 | $ | 1,575 | ||||
2 | 1,695 | |||||
3 | 1,780 | |||||
4 | 1,830 | |||||
If the discount rate is 7 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
Future value | $ |
If the discount rate is 12 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
Future value | $ |
If the discount rate is 23 percent, what is the future value of the cash flows in year 4? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
Future value | $ |
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